OSB GROUP PLC Osb Announces The Acquisition Of A Mortgage Portfolio From Arbuthnot

 
TIDMOSB 
 
 
   LEI: 213800ZBKL9BHSL2K459 
 
   OSB GROUP PLC 
 
   (the Company) 
 
   OSB announces the acquisition of a mortgage portfolio from Arbuthnot 
 
   OSB GROUP PLC announces that it has exchanged and completed the purchase 
of a c.GBP55 million portfolio of UK residential mortgages from 
Arbuthnot Banking Group PLC (Arbuthnot). The portfolio was acquired at a 
discount to current balances and will continue to be serviced by Exact, 
OSB's in-house servicer. The addition of this loan book will supplement 
the Group's strong organic growth. 
 
   Jens Bech, Group Commercial Director of OSB, said: 
 
   "We have a disciplined investment process and this portfolio meets our 
return hurdles. We will continue to evaluate opportunities as they arise 
to supplement the ongoing organic growth opportunities we have in front 
of us". 
 
   Enquiries: 
 
   OSB GROUP PLC 
 
   Alastair Pate   Investor Relations                                                            t: 01634 835 796 
 
 
   Brunswick 
 
   Robin Wrench / Simone Selzer                                                               t:  020 7404 5959 
 
 
   Notes to Editors 
 
   About OSB GROUP PLC 
 
   OSB began trading as a bank on 1 February 2011 and was admitted to the 
main market of the London Stock Exchange in June 2014 (OSB.L). OSB 
joined the FTSE 250 index in June 2015. On 4 October 2019, OSB acquired 
Charter Court Financial Services Group plc (CCFS) and its subsidiary 
businesses. On 30 November 2020, OSB GROUP PLC became the listed entity 
and holding company for the OSB Group. OSB is a specialist lending and 
retail savings Group authorised by the Prudential Regulation Authority, 
part of the Bank of England, and regulated by the Financial Conduct 
Authority and Prudential Regulation Authority. The Group reports under 
two segments, OneSavings Bank and Charter Court Financial Services. 
 
   OneSavings Bank 
 
   OSB primarily targets market sub-sectors that offer high growth 
potential and attractive risk-adjusted returns in which it can take a 
leading position and where it has established expertise, platforms and 
capabilities. These include private rented sector Buy-to-Let, commercial 
and semi-commercial mortgages, residential development finance, bespoke 
and specialist residential lending, secured funding lines and asset 
finance. 
 
   OSB originates mortgages organically via specialist brokers and 
independent financial advisers through its specialist brands including 
Kent Reliance for Intermediaries and InterBay Commercial. It is 
differentiated through its use of highly skilled, bespoke underwriting 
and efficient operating model. 
 
   OSB is predominantly funded by retail savings originated through the 
long-established Kent Reliance name, which includes online and postal 
channels as well as a network of branches in the South East of England. 
Diversification of funding is currently provided by securitisation 
programmes and the Bank of England funding schemes including, the Term 
Funding Scheme, the Term Funding Scheme for SMEs and the Indexed 
Long-Term Repo. 
 
   Charter Court Financial Services Group 
 
   CCFS focuses on providing Buy-to-Let and specialist residential 
mortgages, mortgage servicing, administration and credit consultancy and 
retail savings products. It operates through its three brands:  Precise 
Mortgages, Exact Mortgage Experts and Charter Savings Bank. 
 
   It is differentiated through risk management expertise and best-of-breed 
automated technology and systems, ensuring efficient processing, strong 
credit and collateral risk control and speed of product development and 
innovation. These factors have enabled strong balance sheet growth 
whilst maintaining high credit quality mortgage assets. 
 
   CCFS is predominantly funded by retail savings originated through its 
Charter Savings Bank brand. Diversification of funding is currently 
provided by securitisation programmes and the Bank of England funding 
schemes including, the Term Funding Scheme, the Term Funding Scheme for 
SMEs and the Indexed Long-Term Repo 
 
 
 
 

(END) Dow Jones Newswires

February 26, 2021 12:47 ET (17:47 GMT)

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